Y H& C Investments Profile Picture Investment Advisor

YH&C Investments

President,Financial Services,Y H& C Investments

  • Education UC Irvine
  • Qualifications CFA and MBA
  • Investment Experience 20 years experience
  • Founded 2004

Concentrated GARP

Growth investor focusing on fundamental analysis including cash ratios, liquidity ratios and margin analysis. Also will invest in anticipation of mergers, spinoffs and arbitrage opportunities.
Growth at a reasonable price. Cash rich balance sheets. Businesses with strategic competitive advantages and high barriers to entry with enormous target markets. Proven leadership in management with skin in the game and forward looking thinkers. Spinoffs, arbitrage possibilities, but largely growth oriented businesses.
The screening approach investigates different criteria on the Balance Sheet – cash ratios, cash/debt ratios, current assets/current liabilities, liquidity ratios and cash flow ratios. In addition, margin analysis is used (ie. Gross margin, net margin, operating margin, return on assets). Sources include Barron’s, Yahoo Finance, MSN Screener, local news, Seeking Alpha, Investopedia, BusinessWeek and Bloomberg.
Positions range from 5% to 20% per allocation. If one position reaches an abnormally large percentage of assets, it will usually be trimmed in some fashion (ie. Hedging or selling).
Closing positions is based on the performance, or lack thereof, of the company. If an abnormally large gain is achieved in a short period, may be sold. If stock is grossly overvalued, it will also be sold.
If stocks are highly overvalued, merger activity, regulatory issues arise, arbitrage possibilities arise or world events occur, the strategy may change.

Risk rating

4
22.1%

Best 30 days

-27.9%

Worst 30 days

Performance

  • 14.2%
    30 day
  • -22.8%
    365 days
  • -21.7%
    Since Inception
    January 20, 2010
Monthly vs S&P500
Sparkbar Graph, Concentrated GARP Investment Model Performance versus S&P500
-26.7%

Last 12 months

  • $5,000.00 subscription min
  • 1.5% fee

Replicability

0.0%
99.6%
0.4%
100.0%
  • Non-replicable
  • Holdings
  • Cash
  • Replicable

Top 5 Holdings View all

16.9%
24.4%
21.2%
17.8%
16.0%
  • CASS
  • DLB
  • DGI
  • CLGX
  • GIGM

Model commentary

  1. 2012 outlook for my six Concentrated GARP stocks

    12 January 2012

    Eventually stock performance should mirror business results.

  2. Mr. Market's dual personality in its full glory 13 November 2011
  3. Sticking with my plan - and looking forward to … 17 October 2011
  4. Hopeful these 6 six stocks I own will perform … 20 September 2011
  5. The moment of truth for Gigamedia approaches - … 23 August 2011

show more


Performance detail

  • Manager
  • Russell 2000
  • S&P 500
30D 90D 365D SI

Performance

Inception January 20, 2010
as of February 08, 2012 Manager Russell 2000 S&P 500 Average Subscriber
Past 30 days 14.2% 9.9% 5.4% -
Past 90 days 15.5% 15.0% 8.9% -
Past 365 days -22.8% 1.8% 1.9% -
Since Inception (Annualized) -11.3% 13.4% 8.7% -
2012 (YTD) 15.2% 11.8% 7.3% -
2011 -33.1% -5.5% -0.0% -35.4%

Risk Metrics

Last 365 Days
as of February 08, 2012 Manager Russell 2000 S&P 500
Best 30 days 22.1% 20.3% 13.6%
Worst 30 days -27.9% -23.6% -16.7%
Volatility 33.5% 32.9% 23.2%
Sharpe Ratio -0.69 0.05 0.08
Sortino Ratio -0.89 0.07 0.10
Maximum Drawdown -42.1% -29.6% -19.4%
Value-at-risk (95%, 1 week) -7.8% -7.6% -5.4%
vs. Russell 2000 vs. S&P 500
Information Ratio -1.38 -1.26
Alpha -26.5% -25.7%
Beta 0.87 1.18
R-Squared 0.73 0.67

Latest transactions view all

Average trades per month 0.3
Executed Symbol Security Replicable Type Price
02/25/11 JMBA JAMBA INC Yes Buy $2.27
02/25/11 DLB Dolby Laboratories Inc Yes Buy $51.46
02/22/11 NDAQ NASDAQ OMX GROUP/THE Yes Sell $27.98
10/07/10 GIGM GIGAMEDIA LTD Yes Buy $1.97
10/04/10 JMBA JAMBA INC Yes Buy $2.05
10/04/10 CLGX CORELOGIC INC Yes Buy $18.58
09/29/10 KONA KONA GRILL INC   Sell $3.41
09/29/10 MLAB Mesa Laboratories Inc   Sell $22.41
Y H& C Investments's other strategies
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  • $5,000.00 subscription min
  • 1.5% fee

Important Information

1. Past performance is no guarantee of future results.

2. Performance of the model manager's account is calculated by Covestor on a daily time-weighted basis, including cash, dividends and earnings distributions, and broker commissions. Manager returns include trades that fail Covestor's trading rules, do not reflect any Covestor suitability or risk score restrictions and are exclusive of Covestor fees. More

3. Average subscription returns ("Avg Sub" or "Avg Client") are calculated by Covestor and are composed of the average, daily, time weighted returns of all active subscriptions to the underlying model. These daily average returns are then linked together for the timeframe requested. In addition, these returns include cash, dividends and earnings distributions, brokerage commissions, Covestor advisory fees, and reflect individual client suitability and risk score restrictions. More

4. All graph data is as of the end of day for the referenced period, unless otherwise specified. The subscription minimum is the minimum subscription required to follow a particular model. The minimum amount is determined by Covestor, based on the characteristics of the underlying model. It should not be considered as specific investment advice for your investment situation.

5. Benchmark returns have been calculated by Covestor using a time-weighted calculation of daily index valuations and do not include cash, dividends and earnings distributions, or transaction costs. More

6. Leverage indicates the level of margin utilized and is calculated by dividing gross exposure by portfolio net liquidation value.

7. All Model Manager information including personal data, profiles, strategies, monthly investment reports, and historical results outside of Covestor has been provided by the Model Manager. Covestor makes no representation or warranty of its accuracy, completeness or relevance and it does not represent the opinions of Covestor. Transaction history is available upon request. Model classifications (Approach, Asset Class) are provided by Covestor, and are intended to serve as a general guide.

8. Top Replicable Holdings: These securities are currently held in the model manager's brokerage account. Those marked as "Replicable Holdings" currently pass Covestor's trading rules, subject to individual client constraints. Eligibility for replication may change over time. Actual client subscription holdings may vary.

9. Latest Transactions: These transactions were executed in the model manager's brokerage account. Those marked as "Replicable" () passed Covestor's trading rules and were eligible for replication at the time of execution, subject to individual client constraints. Eligibility for replication may change over time. Actual client subscription trade activity may vary.

10. S&P 500 Index is an unmanaged index compiled by Standard & Poor´s Corp. Index returns do not reflect any management fees, transaction costs or expenses. Individuals cannot invest directly in an Index. S&P 500 index data: S&P 500 Copyright © 2012.

11. Dow Jones index data: CME Group Index Services, LLC 2012

Background provided by the manager YH&C Form ADV


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